Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and 15% subsequently. The total credit sales in March were P210,000 and total collections in March were P198,000. Credit sales in January and February are equal. How much is the credit sales for January? A P307,500 P615,000 P61,500 D P205,000

Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and 15% subsequently. The total credit sales in March were P210,000 and total collections in March were P198,000. Credit sales in January and February are equal. How much is the credit sales for January? A P307,500 P615,000 P61,500 D P205,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9EA: Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale,...

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